Saturday, July 2, 2016

Total threatens to review its investment in France – L’Express

Total is determined not to give in to the demands of opponents to the labor law, officials refinery blockades in May. The oil company, through its CEO, Patrick Pouyanné, has in fact indicated that it could jeopardize the planned investments in France.

“It was a totally external social movement in the company. There was no domestic demand,” lamented Patrick Pouyanné, speaking to the Economic Forum of Aix-en- Provence (Bouches-du-Rhône). “I have an investment at this time, a specific problem, which is to be able to make performance plastics: they made either in France or in Belgium.”

Several million evaporated with blocking refineries

“Efforts are being made, very important to pull up French industry to invest in refining the French (…). and when you see that all of a sudden, all the efforts you have made for three years are set low and there is a kind of pact (.. .) that is broken, I have a duty that is to ask me questions, “said the CEO. Since 2012, Total has invested over 2 billion euros for the modernization of its production facilities in France.

This is not the first warning brandished by the oil group. Patrick Pouyanné had threatened to “seriously reconsider” the investments of the group on 24 May. Losses caused by the strike in the five refineries amounted to 45 million euros, according to estimates reported by Le Figaro .